More than half of all real estate buyers in the Florida markets of Miami-Fort Lauderdale, Sarasota, Fort Myers, Tampa, and Melbourne purchased homes with cash.
According to Zillow Real Estate Research, cash purchases are more common in markets east of the Mississippi River. One factor is that in many Eastern states, a judicial foreclosure process lengthens the foreclosure timeline, “keeping cash purchases elevated for a longer period as investors purchase discounted homes from lenders once they clear foreclosure,” Zillow reports.
Ten metros with the smallest share of cash buyers are in California.
PB Topical Ref
